FOUR OAKS, N.C. — Becton, Dickinson and Company (BD), a global medical technology company, is planning to develop an East Coast distribution center in Four Oaks. Situated on 130 acres within Four Oaks Business Park, the 720,000-square-foot facility will be expandable to more than 1.1 million square feet. Construction of the $38 million project is scheduled for completion in mid-2011, with the facility slated to receive product by late 2011. The facility will serve BD customers from Maine to Florida.
OCEAN RIDGE AND TALLAHASSEE, FLA. — The Orlando, Fla., office of Hendricks & Partners has completed the sales of two multifamily properties in Florida. In the first transaction, Jeffrey Eder acquired a 2.85-acre multifamily development site in along the Intracoastal Waterway in Ocean Ridge. Capstone Realty sold the property for $1.2 million. Cole Whitaker of Hendricks & Partners brokered the transaction. In the second deal, 1560 High Road LLC purchased Star Suites on High, a 35-unit multifamily property located at 1560 High Road in Tallahassee, for $1.97 million. Hendricks & Partners' Hal Warren represented the seller, McLean, Va.-based J.E. Roberts Companies, in the transaction.
PINELLAS PARK, FLA. — Marcus & Millichap has completed the sale of Country Inn, a 14,273-square-foot limited mental health facility in Pinellas Park. An undisclosed Washington-based buyer acquired the property for $1 million. Situated on 3.08 acres at 7600 78th Avenue N., the property consists of 23 units offering a total of 42 beds. Kenneth Carriero represented the undisclosed seller and the buyer in the transaction.
MEMPHIS, TENN. — Memphis-based Financial Federal Savings Bank has provided $88.85 million in non-recourse permanent financing for four properties located throughout the Southeast. The four loans are cross-collaterized and carry a fixed-interest rate of 4.43 percent for 10 years with a 30-year amortization schedule. The loan package was underwritten to a 75 percent loan-to-value. Jon Van Hoozer and Steve Curnutte of Financial Federal procured the financing through the company's Freddie Mac platform.
MIAMI — An entity affiliated with Urban America has acquired Northside Centre, a shopping center located at NW 27th Avenue and NW 79th Street in Miami. The 475,579-square-foot shopping center sold for $18 million. The 80-percent-leased property is occupied by Walgreens, Presidente Supermarket, Payless Shoes, Citibank, Foot Locker, Rainbow Fashions, CitiTrends, Simply Fashions and Dots. Anthony Blanco, Jim Michalak and Lenard Williams of Plaza Advisors represented the seller; Gene Snyder & Co. represented the undisclosed buyer in the transaction.
HUNTSVILLE, ALA. — CBL & Associates Properties has acquired the remaining 50 percent interest in Parkway Place in Huntsville from its joint venture partner, Colonial Properties Trust. The interest was purchased for $38.8 million, comprised of $17.9 million in cash and assumption of remaining $20.9 million in the loan, which was secured by Parkway Place. Situated on 34 acres, the 647,000-square-foot property is occupied by Belk, Dillard's, Carabba's Italian Grill, Chico's, The Buckle, Forever 21, Pottery Barn, Victoria's Secret and Charming Charlie.
NASHVILLE, TENN. — Associated Estates Realty Corp., along with minority-interest holder Bristol Development Group, is developing Vista Germantown, a multifamily property located in downtown Nashville. The property will offer 242 apartment units, structured parking, a fitness center and an outdoor pool. Merit Enterprises, a wholly owned subsidiary of Associated Estates, is serving as general contractor for the project, which is scheduled for completion in spring 2012. Additionally, the property will be managed by Associated Estates.
CARY, N.C. — Tampa, Fla.-based Phillips Development & Realty LLC has selected McShane Construction Company’s Southeast Region to construct Phillips Swift Creek, a 196-unit multifamily property at 2025 Swift Commons Lane in Cary. Situated on 13.18 acres, the 239,196-square-foot property will be comprised of seven three-story buildings and one split-level building. The complex will offer one-, two- and three-bedroom apartments featuring stainless steel appliances, granite countertops, a garden-style soaking tub and a patio or balcony. Additional amenities include laundry facilities, enclosed garage space, a car wash, an outdoor grilling area, a resort-style swimming pool and a clubhouse with a fitness center, a media room and a kitchenette/party area. Atlanta-based The Preston Partnership is providing architectural services for the project, which is slated for completion in July 2011.
BROWARD AND DADE COUNTIES, FLA. — Butters Construction & Development has been selected to construct two TD Bank branches in Florida. The new locations will be located at the corner of Pines Boulevard and North University Drive in Broward County and at the corner of Miami Gardens Drive and NE 15th Avenue in Dade County. The facilities are scheduled for completion by summer 2011. TD Bank is one of the 15 largest banks in the United States and is a wholly owned subsidiary of Toronto Dominion Bank of Canada.
BATON ROUGE, LA. — Lillibridge Ventas, a wholly owned subsidiary of Ventas Inc., is constructing a $40 million medical office building at the campus of the new $350 million Women's Hospital in Baton Rouge. The two-tower, 250,000-square-foot complex will house a comprehensive breast center, a maternal-fetal medicine center, infrastructure for an ambulatory surgery center, retail space and space for future outpatient services. Completion is scheduled for late 2012.